Research Analysts Offer Predictions for CECO Environmental Corp.’s Q3 2024 Earnings (NASDAQ:CECO)

CECO Environmental Corp. (NASDAQ:CECO) – Analysts at Northland Capmk decreased their Q3 2024 earnings per share estimates for CECO Environmental in a research report issued on Tuesday, April 30th. Northland Capmk analyst B. Brooks now expects that the company will earn $0.31 per share for the quarter, down from their prior forecast of $0.37. The consensus estimate for CECO Environmental’s current full-year earnings is $0.94 per share. Northland Capmk also issued estimates for CECO Environmental’s FY2025 earnings at $1.49 EPS.

CECO Environmental (NASDAQ:CECO) last released its quarterly earnings results on Tuesday, April 30th. The company reported $0.11 EPS for the quarter, hitting analysts’ consensus estimates of $0.11. CECO Environmental had a return on equity of 11.57% and a net margin of 2.23%. The company had revenue of $126.30 million for the quarter, compared to analysts’ expectations of $135.82 million. During the same period in the prior year, the firm earned $0.10 earnings per share. The firm’s revenue was up 12.2% compared to the same quarter last year.

Several other analysts have also recently issued reports on the company. Northland Securities increased their price objective on CECO Environmental from $27.00 to $28.00 and gave the company an “outperform” rating in a research note on Wednesday, March 6th. Roth Mkm increased their price objective on CECO Environmental from $22.00 to $25.00 and gave the company a “buy” rating in a research note on Wednesday, March 6th. HC Wainwright reiterated a “buy” rating and issued a $30.00 price objective on shares of CECO Environmental in a research note on Wednesday. Needham & Company LLC increased their price objective on CECO Environmental from $23.00 to $26.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, Craig Hallum increased their price objective on CECO Environmental from $25.00 to $28.00 and gave the company a “buy” rating in a research note on Wednesday. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, CECO Environmental has a consensus rating of “Buy” and an average target price of $27.40.

CECO Environmental Stock Down 2.3 %

NASDAQ:CECO opened at $22.45 on Friday. The stock has a market capitalization of $784.40 million, a price-to-earnings ratio of 64.14, a price-to-earnings-growth ratio of 1.63 and a beta of 1.24. The company has a quick ratio of 1.22, a current ratio of 1.38 and a debt-to-equity ratio of 0.53. CECO Environmental has a 52 week low of $10.68 and a 52 week high of $25.82. The stock’s fifty day moving average is $22.74 and its two-hundred day moving average is $20.41.

Institutional Trading of CECO Environmental

A number of hedge funds and other institutional investors have recently made changes to their positions in CECO. Wellington Management Group LLP increased its position in shares of CECO Environmental by 271.2% during the third quarter. Wellington Management Group LLP now owns 629,146 shares of the company’s stock worth $10,047,000 after purchasing an additional 459,646 shares in the last quarter. First Eagle Investment Management LLC acquired a new stake in shares of CECO Environmental during the third quarter worth about $7,037,000. Loomis Sayles & Co. L P acquired a new stake in shares of CECO Environmental during the third quarter worth about $6,891,000. RK Capital Management LLC increased its position in shares of CECO Environmental by 36.6% during the third quarter. RK Capital Management LLC now owns 884,347 shares of the company’s stock worth $14,123,000 after purchasing an additional 237,093 shares in the last quarter. Finally, Hennessy Advisors Inc. acquired a new position in CECO Environmental in the 4th quarter valued at about $4,153,000. Institutional investors and hedge funds own 68.08% of the company’s stock.

Insider Activity at CECO Environmental

In other CECO Environmental news, Director Richard F. Wallman bought 5,000 shares of the company’s stock in a transaction that occurred on Wednesday, May 1st. The shares were purchased at an average price of $21.95 per share, with a total value of $109,750.00. Following the completion of the acquisition, the director now directly owns 191,853 shares of the company’s stock, valued at approximately $4,211,173.35. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Richard F. Wallman acquired 5,000 shares of the company’s stock in a transaction on Wednesday, May 1st. The shares were bought at an average price of $21.95 per share, with a total value of $109,750.00. Following the completion of the acquisition, the director now owns 191,853 shares in the company, valued at approximately $4,211,173.35. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Laurie Siegel bought 2,500 shares of the business’s stock in a transaction dated Wednesday, March 6th. The shares were purchased at an average price of $19.87 per share, for a total transaction of $49,675.00. Following the transaction, the director now directly owns 7,906 shares of the company’s stock, valued at approximately $157,092.22. The disclosure for this purchase can be found here. 16.90% of the stock is currently owned by corporate insiders.

CECO Environmental Company Profile

CECO Environmental Corp. provides critical solutions in industrial air quality, industrial water treatment, and energy transition solutions worldwide. It operates in two segments: Engineered Systems and Industrial Process Solutions. The company engineers, designs, manufactures, and installs non-metallic expansion joints and flow control products, including rubber expansion joints, ducting expansion joints, and industrial pinch and duck bill valves; membrane-based industrial water and wastewater treatment systems; and provides dust and fume extraction solutions comprising consultation, design, manufacturing, installation, and service, as well as water and wastewater treatment solutions.